Mayor Bloomberg creates his own super PAC

For those wondering how New York Mayor Mike Bloomberg will spend his days after he steps down in 2014, the next three weeks will be a preview: He announced the formation of a super PAC.

With three weeks to go until the election, the former CEO of Bloomberg L.P. solidified his place among the ranks of wealthy moguls, using their money to make an impact on both the presidential and congressional races.

The group, which he announced on Wednesday, will be called Independence USA PAC. New York's deputy mayor, Howard Wolfson, will take a leave of absence from his position to manage the political organization.

Bloomberg says he is ready to spend as much as $15 million before Election Day, according to the New York Times. His chief political interests are gun control and same-sex marriage legislation, and his super PAC will advocate for congressional candidates who the mayor believes will moderate national policies on these issues.

Candidates who Bloomberg will rally behind include Bob Dold, a Republican from Illinois; California State Senator Gloria Negrete McLeod; and Gov. Angus King, an independent running for the U.S. Senate in Maine.